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More About:  financial crisis • Ramalinga Raju • oil prices • job • S&P 500 • Unilever • Cisco • unemployment • outsourcing • Alcoa • Dow Jones • Intel • NASDAQ • globalization • India

'India's Enron' Imperils Booming Industry

$1B scandal threatens India's role as major outsourcing center for top companies

(Newser) - A $1 billion accounting fraud at Satyam is being described as India's Enron, and it could have a major impact on how Fortune 500 companies use Indian companies for outsourcing critical computer and IT functions, reports the Financial Times. The CEO of Satyam, India’s fourth-largest IT services company, resigned... More »

Dow Down 245 on Jobs

Investors nervous ahead of Friday's December employment report

(Newser) - Stocks piled on after this morning’s losses, with investors shaken by a grim jobs report and news of layoffs and slashed forecasts at Alcoa and Intel. Crude plunged $5.95, to $43.01 a barrel, after inventories rose more than forecast, MarketWatch reports. The Dow fell 245.40 to... More »

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